Rates fall as subprime lenders take hits

Mortgage rates fell again to near year lows as a result of the hits being taken by subprime lenders. The bond markets are very volatile right now and with any luck this could open a significant opportunity for those with cash reserves. There are many buying opportunities such as short sales, foreclosures, etc. Be careful but keep your eyes open. I suggest those with the financial capabilities reduce their credit card debt and get the scores up now to be ready to jump in when the right opportunity arises.

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